SharePoint limits for major and minor versions

Question

I am reading the SharePoint limits inside this link @ sharepoint-online-limits, where it says the following:

Versions

50,000 major versions and 511 minor versions.

So what will happen if the major or minor versions exceed the limits? will SharePoint automatically delete older versions and create new major or minor version or it will raise an error ? so for example let say a document has 50,000 major version and I edit the document >> then will I get an error or SharePoint will remove version number 1 and create a new version?

Second question inside the document library we have the following versioning settings for the number of major versions:

so what will happen if the document library exceed the 500 major version? will SharePoint delete the older version and create a new one, or we can not have more than 500 major versions in the above picture?

Answer 1

You will not get any error if you edit the document after version limit is crossed.

Earlier versions will be deleted when the version limit is reached.

Answer 2

1.In my previous experience, when the versions reach the limit, you will receive a message shows "The limit for major versions has been exceeded. From now the newest major version will be deleted.". So, SharePoint will remove the latest version and create a new version.

2.When the major versions reach 500, SharePoint will remove the latest version and create a new version.